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The allocation of emissions permits or allowances among greenhouse gas emitters to establish an emission trading market. The allocation of emission permits / allowances can be done through grandfathering (based on past emissions) or the auctioning of permits.


"Glossary", Ecosecurities Limited. "Challenges for a business case for high-biodiversity REDD Projects and Schemes."- A Report for the Secretariat of the CBD, February 2009, Version1.2

Alternative definition

Determines the species (and amount of) which may be caught whether in relation to particular stocks or groups of stocks or catch per vessel over a period of time or to the catch by nationals of any State during a specified period. Includes transferability, quota swaps.

Alternative source

FAOLEX, 2000.